BIDZ buy alert update
Mar 25, 2008 investing, trading
Since I called the support level on BIDZ at 7.19, my pick is up 10%.
My technical analysis of BIDZ today:
- Bollinger bands squeezing. This usually means a trend change is eminent.
- Moving averages are converging. The 5 day, my favorite moving average, is close to crossing above the 10 and 20 day moving averages.
- MACD looking bullish, the fast line is close to crossing above the slow line. MACD is still edging toward the zero line, and a cross above would be a bullish signal.
- Today’s close is still holding the 5 day moving average.
- Forming a rounded bottom.
BIDZ moves somewhat with the DOW/S&P, and today saw some selloff because of negative news on oil refineries.
I am not a financial adviser. Never buy or sell stock based on my recommendations or analysis; do your own due diligence and consult your financial adviser.
Tags: BIDZ, bidz.com, technical analysis, trading